While Mark Zandi may not “believe the data,”
It appears the market does (for now). The dismal jobs data sparked a kneejerk bond rally, sending yields plunging from the week’s highs, and stocks and gold jumped higher (we assume on hopes that bad news is great news for assets as Yellen will have an excuse to be more dovish). The initial moves are fading (as always) but stocks are still pushing higher.
This post was published at Zero Hedge on 09/05/2014.